Previously, the Bucks and the Bradley Center operated on year-to-year leases.

NBA would have to approve pact

The BMO Harris Bradley Center board of directors and the Milwaukee Bucks have been discussing a new six-year lease that, if approved by the National Basketball Association, will provide stability for both sides as discussion continues over the possibility of a new, multi-purpose arena.

Details of the lease were not released. Information on an extended lease came from the minutes of the BMO Harris Bradley Center's March meeting, which were released this week.

If approved by the NBA, a six-year lease would be, by far, the longest lease the two sides have had in years. In general, the Bucks and the BMO Harris Bradley Center have gone year-to-year on leases.

Assuming the NBA signs off on the lease, the agreement is more good news for the financially strapped arena. In late May, representatives of the Metropolitan Milwaukee Association of Commerce, the Bradley Center, the Milwaukee Bucks and BMO Harris Bank announced a naming-rights deal.

Coupled with new financial sponsorship commitments from some of Milwaukee's biggest corporations, including Harley-Davidson, Kohl's, Northwestern Mutual and Rockwell Automation, BMO Harris Bradley Center officials estimated the new revenue would total more than $18 million over six years.

It is notable that the lease and financial commitments are both for six years. That seems to be the time frame BMO Harris Bradley Center officials, the MMAC and U.S. Sen. Herb Kohl (D-Wis.), the owner of the Bucks, have concluded is needed to start planning for a new arena.

As of last November, the BMO Harris Bradley Center owed the Bucks $9.5 million, but those payments were extended out to as late as 2019.

In previous years, the Bucks have paid no rent at the arena and received 27.5% of total gross receipts from concessions, other than programs and merchandise, at all arena events. The franchise also received 13.75% of gross revenue from food and beverages sold in suites and 30% of merchandise sales at Bucks home games. It could not be determined whether those agreements are still in place.

The Bucks are the BMO Harris Bradley Center's main tenant and generate as much as 40% of all revenue.